Document Content

DECISION

On the directive selling prices of petrol and oil in 2006

THE MINISTRY OF FINANCE

Pursuant to the Government's Decree No. 77/2003/ND-CP of July 1, 2003, defining the functions, tasks, powers and organizational structure of the Ministry of Finance;

Pursuant to the Government's Decree No. 170/2003/ND-CP of December 25, 2003, detailing the implementation of a number of articles of the Ordinance on Prices;

Pursuant to the Prime Minister's Decision No. 187/2003/QD-TTg of September 15, 2003, promulgating the Regulation on management of petrol and oil trading;

In furtherance of the Prime Minister's direction in the Government Office's Official Letter No. 117/TB of August 9, 2006, announcing the Prime Minister's opinion on the adjustment of petrol and oil prices;

After reaching agreement with the Ministry of Trade and the Ministry of Planning and Investment,

DECIDES:

Article 1.- The directive selling prices (inclusive of value added tax) of petrol and oil of a number of standard categories at actual temperature are set uniformly nationwide as follows:

Categories

Directive wholesale prices (VND/Kg)

Directive retail prices (VND/liter)

RON 92 non-lead petrol

12,000

RON 90 non- lead petrol

11,800

RON 83 non- lead petrol

11,600

Diesel oil 0.5% S

8,600

Kerosene

8,600

Fuel oil (mazut oil) (FO No2B)

6,000

Enterprises selling petrol and oil shall apply the prices specified above and comply with the Trade Ministry's guidance on the selling prices of petrol and oil in localities far from the ports of importation.

The prices of petrol and oil of other categories shall be decided by petrol and oil trading enterprises on the basis of the actual selling prices of petrol and oil of standard categories in the same market and disparities in their quality.

Article 2.- Sale places

- Wholesale: Fuel shall be loaded onto the buying party's means of transport at central stores in provinces or cities.

- Retail: Fuel shall be loaded onto the buying party's means of transport at filling stations or retail shops in provinces or cities.

Article 3.- Responsibilities of ministries, branches, localities and production and business units:

- According to the Prime Minister's direction, enterprises are required to cut expenses, especially expenses for petrol and oil, and reduce costs. For the immediate future, the current selling prices of electricity and coal shall remain unchanged so as to contribute to achieving the 2006 target of inflation control and economic growth. Petrol and oil trading units shall have to reduce their management costs by 5% as compared with the 2005's figures.

- The Ministry of Trade shall direct petrol and oil trading enterprises to inventory such goods according to current regulations upon adjustment of prices, ensuring supply of sufficient goods and preventing speculation.

- Petrol and oil importing enterprises shall be jointly responsible before law for violations related to selling prices of petrol and oil committed by their dependent units and retail agents within their distribution systems.

- In case of great fluctuation in petrol and oil prices in the world market, the Vietnam Petroleum and other enterprises assigned by the State to import and trade in petrol and oil shall have to regulate the supply-demand balance and ensure adequate supply to meet petrol and oil demands according to their assigned tasks.

- Provincial/municipal Finance Services shall coordinate with provincial/municipal Trade Services and Market Control Sub-Departments in inspecting the observance of provisions on petrol and oil selling prices in localities, promptly detecting and handling violations within the ambit of their powers, or reporting such violations to competent agencies for handling.

Article 4.- This Decision shall take effect at

16:00 hrs of August 9, 2006, and replace the Trade Minister's Decision No. 0747/2006/QD-BTM of April 27, 2006.